West Virginia Senator's Money Troubles: A Closer Look

Senator Jim Justice, a Republican from West Virginia, has found himself in a financial pickle. He's agreed to pay back nearly $5. 2 million in overdue personal taxes. This isn't his first rodeo with money troubles. The senator, who was once worth billions, has seen his fortune shrink dramatically over the years. Justice's legal team and the federal government recently struck a deal to settle his unpaid taxes, which date back to 2009. This comes just as the government filed a lawsuit, stating that Justice and his wife, Cathy, had not paid their taxes in full. The Justice Department's tax division gave the green light to this agreement. Justice's wealth has taken a nosedive. Forbes once estimated his net worth at $1. 9 billion, but that was last decade. By 2021, his fortune had shrunk to $513 million. This year, Forbes estimated his net worth to be "less than zero, " meaning his debts outweigh his assets. Justice's office hasn't commented on the latest tax settlement. But back in October, he told local media that his businesses are complex and that his children are managing them well. He also repeated his claim that collection efforts against him are politically motivated. Justice's financial woes don't end with unpaid taxes. The IRS recently filed liens totaling over $8 million against him and his wife for unpaid personal taxes. In September, state tax officials filed liens for $1. 4 million against the Justice family's historic hotel, The Greenbrier, and its sporting club for unpaid sales taxes. Justice's family has had to settle debts to avoid foreclosure of The Greenbrier Hotel. The hotel, which has hosted U. S. presidents and other dignitaries, was at risk of being auctioned off. This was after a loan taken out by Justice was sold to a credit collection company, which declared it to be in default. Justice's family also settled debts last year to avoid the Greenbrier Hotel's foreclosure. The hotel, which has hosted U. S. presidents, royalty, and congressional retreats, had come under threat of being auctioned off. This was after JPMorgan Chase sold a longstanding loan taken out by Justice to a credit collection company, Beltway Capital, which declared it to be in default. The state Democratic Party has blamed Justice's financial troubles on his own incompetence. Last year, a union official at the Greenbrier said that Justice's family was behind on payments to an employees' health insurance fund, putting workers' coverage at risk. In 2023, dozens of properties owned by the Justice family in three counties were auctioned off to pay delinquent real estate taxes. Justice bought The Greenbrier resort out of bankruptcy in 2009 for $20. 1 million. The resort, which dates back to 1778, includes a casino, spa, and dozens of amenities. It employs around 2, 000 workers and has hosted various events, including a PGA Tour golf tournament and NFL training camps.